good morning. it is friday july 15th. this is your "am: wake-up call." let's talk about the debt ceiling talks, five straight days of meetings and house leaders are as close to a deal as they were on sunday. so basically this week has been a giant air ball or gutter ball and the u.s. is getting credit warnings from standard & poor's and moody's. so here's the good or not as bad news about it. there is a plan b in the senate. here's what jessica yellin found

out. >> now, despite all that, i'm told by my sources there's not a lot of optimism, that this particular negotiating process here at the white house is going to actually end up leading to the real deal, and a lot of effort and attention is now turning to a different process that's happening in the u.s. senate and another alternate deal that's being worked out between the two senate leaders that could instead end up raising the debt ceiling. >> an optimistic late night view from jessica yellin. today president obama will update the nation with a press conference at 11:00 a.m. eastern time, cnn will carry that live. let's talk about the phone hacking scandal in the united kingdom. it might not be limited to that side of the atlantic. the fbi is now investigating murdoch's news corporation. there's an accusation that his employees may have tried to hack into the phone conversations and voicemails of 9/11 victims and their families. rudy giuliani was mayor of new york during that time.

he and murdoch have been friends for a long time, so what does giuliani make of all this? >> intercepting communications like that is a crime, it has to be investigated. i think what there shouldn't be and we've learned recently with a bunch of criminal cases of different kinds, don't rush to judgment, give people a presumption of innocence. i think that just how high up it goes is a big question and it's one we shouldn't be jumping to conclusions about. >> speaking of hacking, somebody absolutely plundered the pentagon in the spring, it was one of the worst breaches ever of security. listen to these details. >> indeed, in a single intrusion this past march, 24,000 files were taken. >> it was done, we think, by a foreign intelligence service, in other words, a nation state was behind it. >> now, those files belonged to a u.s. defense contractor, that's 24,000 good reasons why the defense department is looking at tightening up its

cyber security. casey anthony leaves jail in two more days, just in time to face a defamation lawsuit. anthony told police that she had a nanny back when the search was getting under way. the woman's lawyers want anthony to sit down for a deposition tuesday. they think it's the only chance they'll get before she bolts orlando and maybe florida. anthony's lawyers say no way, that is too soon after a gruelling trial and she'll plead the fifth if asked questions. governor jerry brown has signed a bill in california that requires public schools to teach students about the contributions of lesbian, gay, bisexual and transgender americans. state senator mark leno is the one who put the bill together. >> the fact is, we have been censoring a very important chapter of civil rights history about a community that has been traditionally demonized and discriminated against. >> the law takes effect in january, but it takes time to update those textbooks, so that

probably won't happen until 2015. and if you're going to the airport later on, you're already dreading the tsa tango, relief might be on the way for you. the tsa will test a trusted traveller program. it will let certain frequent flyers at certain airports skip the full body imaging and basically get them through the security faster. the only catch is that they will have to give the tsa extra information about themselves ahead of time. this trial run begins this fall in atlanta, detroit, dallas and miami on certain delta and american airlines flights. right now, the nikkei is up, but all others, the hang seng, the dax, the ftse 100 all lower at this hour. let's go to hong kong, asian and european stocks seem to be reacting to a combination of economic news, including what's happening here in the united states. >> let's fine out why.

as you said, european markets are slitding. investors are worried about debt. they are worried about how the u.s. debt talks are in dead lock and stan doord and poo's threatening to cut bond rates. and banks finding out if they're tough enough to take another shock. the stress test results are due out mid-day in new york, as many as one bank in nine is expected to fail this test. so there is a lot to unnerve global investors on this date. >> let's talk about google. i joined google plus the other day. i didn't have an invitation, i said it on this show. one of our viewers sent me an invitation and i joined. you know how many google plus friends i have? >> you have one, because i just added you into my circle. >> oh, mied gy god, i had nobod my circle. thank you. i'm one of the 10 million-plus people on google plus. what an all-star second quarter that company has had. >> you said it.

i mean, google beat the street, up 36% from a year ago. a profit rose as more people are clicking on google's ads. i never click on them, but people do. it's been a busy quarter as well, it spent $900 million on infrastructure, launched its laptop and google offers, google's answer to groupon. as for its answer to facebook, google plus has gone to 10 million users in two weeks. it's not even open to the masses yet. it's kind of fun. >> now that i have one friend, i probably have a circle. so i bless you for that. great to see you, i will talk to you later on tv and on google plus. let's go to rob marciano live in atlanta. he's not in my circle of trusted friends or whatever they call it, but the day is early yet. good morning. what have we got? >> well, for one thing, you'll always be in my inner circle, regardless of whether it's google or facebook or whatever. a number of storms down across

the southeast, in through and building also parts of the plains. if you're traveling to those areas, there will be some issues. but another gorgeous day in the northeast, just beautiful stuff. atlanta, minneapolis, will probably see thunderstorms this afternoon, and high temperatures will be decent, 85 in new york city and 93 degrees expected in memphis, but the heat's going to be building, and we'll see a heat wave, you know, of pretty decent proportions over the weekend as far north as the canadian border. let's go to ukraine zoo where a two-headed snake seems to be the highlight of this thing. if you can imagine, two heads on one snake body. >> oh! >> now, when one of the heads gets hungry, they sometimes fight over food. but when one head gets the food, the food goes into the same stomach. >> that's a good point. >> the other head says, i'm full, but apparently they have quite an interesting. >> i like the experience of eating.

i like it to go through my mouth. that's interesting. it's kind of gross for the morning, i have to tell you, rob. that's kind of -- >> we've shown worse stuff than that. at least we haven't shown them eating rats. >> we'll save that for the next time we talk. we'll check in with rob. big breaking news right now, the chief executive of the news of the world, of the news corporation newspapers in news international is the name of the company, rebekah brooks has resigned. this is a message from rebeka brooks, which we're working to confirm, the ceo of news international has said she has resigned because she feels a deep sense of responsibility for the people we have hurt, that's her quote. that's rebekah brooks. she wants to reiterate, she says, how sorry i am for what we know to have taken place. she is resigning as the ceo of news international, which is the parent company of the news corporation newspapers. she's been there for 22 years.

she's been under a great deal of pressure. she was one of the three people who has been subpoenaed to british parliament to testify. she is the one, she's a british citizen, so she is compelled to go, although we do have news this morning that both rupert murdoch and his son, while rupert murdoch is not a british citizen, will in fact testify before parliament. there she is, rebekah brooks, being supported by rupert murdoch, she has offered her resignation and has left the company. can you guess which newsmaker made this statement about media mogul rupert murdoch and the news of the world's alleged hacking of 9/11 victims here in the united states? quote, he is a very honorable, honest man. this can't be something that he would have had anything to do with. we'll tell you who said it right after this quick break. nine minutes after the hour. [ man ] they said i couldn't win a fight.

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12 minutes after the hour.

before the break, we asked you if you could guess who called rupert murdoch an honorable and honest man. here is former new york mayor rudy giuliani. >> are you confident enough in him? >> oh, gosh yeah. he's a very honorable, honest man. this can't be something he would have anything to do with. the fact is that they're doing it is a bad thing, it shouldn't be done. i don't know what it is in england but in the united states it's a felony, and i've prosecuted people for that. >> murdoch and giuliani are long-time friends, by the way. murdoch attended giuliani's wedding in 2003, he endorsed him in the 1993 mayoral race, and according to filings, a law and lobbying firm received $100,000 in lobbying fees from news corporation in 2005. a looming debt ceiling deadline is a very serious matter, so serious that comedians can't get enough of it. >> the good news for president obama in the last three months his re-election campaign raised $86 million.

the bad news, if he gets re-elected he's got to come up with $14 trillion more. the tsa is now charging extra for happy endings. that's how bad it is. today, warren buffett was turned down for a discover card. that's how bad. they're bringing in unlicensed contractors to raise the debt ceiling. that's how bad. >> america will be plunged into despair. governed by roaming bands of outlaw vigil antes. they've been in nonstop meetings, how are those going? >> temperatures began rising after house majority leader eric cantor suggested the two sides were too far apart to come to a deal. that's when the president got very agitated. >> he said, don't call my bluff, eric. >> boy, the name eric really takes the urgency and steam out of an argument, doesn't it? don't call my bluff, eric. really. it's a name only rivaled by craig and susan. i will destroy you! craig.

you can't handle the truth! susan. >> time now for your political ticker with tim, the host of morning briefing on sirius xm, live from washington. good morning, tim farley. >> good morning. sheldon. that's an old billy crystal line, i couldn't avoid it. the name game, is that what they're calling names now? actually, it seems there may be some idea weather they're going to be doing -- i know the president is speaking today. there is no meeting of the octomob, and nancy pelosi said yesterday let's not go beyond the pale. we don't want to go to camp david. there may be a way out of this and we'll be seeing this at some point out of the day. we're looking at this back up option which may be the mitch mcconnell option, we'll have to see how it turns out. i don't think anyone really knows, by the way. >> he's there in the middle of

the octomob, i will always remember you started that. the president is holding a press conference at 11:00 a.m. eastern which we'll cover. you went to the baseball game last night, which i didn't think was -- i wouldn't have advised anybody being involved in a competition between democrats and republicans that involved bats and balls but how did it go? >> it was actually a nonviolent event. the freshman congress highly touted coming out of the new orleans district pitched an amazing game. it was a no-hitter until the very end. he struck out 13 republicans and just a fantastic night on the mound for him, 8-2, the final score. and it was a chance to sort of escape what's happening, a couple babe ruth shots of the building. but no humidity. kind of strange for july. and a lot of people raising

money for the boys and girls club which was really the purpose of the game. >> good. i'm glad some good activity is going on in washington, and take the no humidity when you can get it. it's going to be a hot summer for you guys. tim, good to see you as always. tim farley. baseball, apple pie, "playboy" love it or hate it, it's a slice of americana. who better to sound off on american business than hugh hefner? he tells piers morgan we have to stay global to stay competitive. >> i think it's the wrong attitude. i think the reality is we live in a very small world and i think that we need to deal with reality. i think there are a certain amount of delusion going on here in terms of the notion, we're no longer in first place. and we're falling further behind if we don't start taking care of real business. >> by the way, "playboy"

publishes 23 international editions. speaking of international stuff, big breaking news this morning. we have news that reck beck beks has resigned, she has quit news international under the cloud of accusation that she's been under. she is one of three senior executives who have been called to testify before the british parliament. she is a british citizen and had agreed to testify, but she has now resigned from the company. we'll have more on that with zain verjee who's standing by in london after this break. but if you're putting cream in your coffee or on your cheese or your putting cheese on your egg sandwich this morning, any of that stuff, you have a cow to thank. so pony up. it is cow appreciation day around america. 19 minutes after the hour. [ male announcer ] to the seekers of things which are one of a kind. the authentic, the rare, the hard to define.

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look at beautiful new york city this morning on july 15th, 2011. that's the view right outside our window. that's central park, by the way. that's central park and the upper east side just in the distance. it is 21 minutes after the hour. here are three things for your radar today, what exactly would happen if there is no debt deal? at 10:15 this morning, some members of congress will push forward on the so-called

prioritized spending act. it would prevent defaults, pay our troops and keep promises to seniors. at 11:00, the president has a news conference, and you've been hearing about it all week, carmageddon is set to happen at 10:00 p.m. eastern, 7:00 p.m. pacific. the 405 in l.a. is being shut down for a weekend reconstruction. stay home if you're in l.a. or get out of town. let's go around the world with zain verjee, breaking news right now in the hacking scandal, a high profile resignation at news corporation. what do we know? >> reck beck ka brooks, chief executive of news international has decided to resign. she is stepping down. she has been over the past few days under so much pressure to step down. and finally, it's happening. take a look at the statement that she said. she said as chief executive i feel a sense of responsibility for people that have been hurt, and then she also went on to say that i'm becoming the focal

point of debate, and it's detracting from trying to fix the problems of the past. rupert murdoch had really been resisting calls for her to resign. rebecca brooks was the former editor in -- of news of the world at the center of the phone hacking scandal that is not only rocking rupert murdoch's media empire and outraging this country, but in the united states, too. there are questions and now criminal investigation that the fbi is going to launch into the phone hacking scandal to see whether victims of 9/11 and their families were hacked into. this is a very significant, very dramatic development. >> now, zain, what this doesn't do is get her out from under the investigation. and just because you understand how it, would works here in the united states when they subpoena people, it's similar in great britain. parliament has issued the equivalent of subpoena to her, and to rupert murdoch and his

son. they've all agreed they're going to testify. what's the implication of that? >> well, she's a british citizen, so she has to get there, go there, and she has to testify. she's said she would appear in front of that parliamentary committee. she's going to answer tough questions, what did she know, when did she know it and does she personally bear any responsibility for what happened. she was editor at the time when a teenager was new murdered ands of the world was deleting voicemail messages that for a brief time allowed her parents to believe she was alive. that's really what set this whole thing off. this woman was editor at the time. she's got tough questions to answer, but this whole scandal is by no means over, both in this country and in the united states. it has rocked the relationship between the police, the media, the politicians, and it's uncovering some pretty dirty, uncomfortable messy stuff that's

hanging out to dry. >> as you said, it is spreading here to the united states into an fbi investigation, into news corporation, and whether or not it hacked the e-mails of 9/11 victims and their families. zain, you'll stay on top of this, we'll come right back to you. also some breaking news in this news corporation, has now announced rebekah brooks' replacement as the head of news international, tom mockridge is now going to join, he's going to take over the role of chief executive officer. he was the chief executive of sky italia, also part of the news corporation empire. he was also part of the european television, of news corporation, so he's part of the company. he's now being elevated to the ceo role as rebekah brooks resigns. news corporation stock has lost over 10% in the last five trading days. i should tell you the stock is trading lower in futures trading now. we'll keep an eye on it. first today in today's businessman special, we're going to get you small business owners

out there and want to be owners paid. we'll get you the top ten microfinance companies coming up after this quick break, 25 minutes after the hour. hey, dad, you think i could drive? i'll tell you what -- when we stop to fill it up. ♪ ♪ [ son ] you realize, it's gotta run out sometime. [ male announcer ] jetta tdi clean diesel. the turbo that gets 42 miles per gallon. ♪ but i did. they said i couldn't fight above my weight class.

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good morning, it is friday july 15th. this is your "am: wake-up call." president obama is giving congressional leaders until saturday to come to a debt agreement. saying it's decision time. he's giving us an update on where things stand, the president has scheduled a news conference for 11:00 a.m. eastern. time is running out, 19 days until we hit the debt ceiling,

or we run out of the ability to pay our debt. if there's no deal soon and the country goes into default and armageddon ep sues, who gets the blame? this poll shows most voters would blame republicans. most believe obama's proposals will affect the middle class, not just the wealthy. take a look at this. these people made a mad dash to be the first in line to apply for section 8 housing vouchers, subsidized housing. applicants rushed the line yesterday morning in dallas. this is the first time in five years the waiting list has been reopened. there were about 5,000 applicants for 3800 vouchers. >> today, shuttle "atlantis" a wake-up call from paul mrk cartny. ♪

♪ >> the crew got some extra sleep this morning after dealing with a computer glitch overnight, the crews continue to transfer equipment and supplies from the shuttle to the international space station. they will also be doing a number of interviews and holding a news conference from space. later today they also get a call from president obama. maybe he's going to ask them how to end this logjam or how debt debate looks from space. we showed this to you, a guy who allegedly stole a $200,000 picasso. well, where are you going with that expensive drawing, thomas crown? police arrested this man last week and they've learned a lot more about him. investors say he had about a half million dollars worth of art in his new jersey apartment, including, wait for it, another picasso. and listen to this, workaholic, you know who you are. you're probably up now watching

me while you're on your treadmill or getting ready for your flight, overtime might be bad for your heart. british researchers studied those who worked three to four hours of youfr time, they were 60% more likely to have a heart problem. we are talking about london, which is a stressful place. just saying. for money morning news, let's go live at the nasdaq market site in new york, good morning. how are u.s. markets shaping up this morning? >> good morning. just london only? what about new york? my goodness. the futures are pointing to a higher open, which is a nice breath of change from what we've been seeing earlier. >> later in the day after ben bernanke said that things aren't looking as good. listen, we know many americans are working way past retirement age but there's a new survey that proves this trend might be here to stay. >> yeah. so it used to be about a decade ago that folks would retire at 64. in a new survey, it suggests

that now people are retiring at 69. it's pretty simple. since the onset of the recession and decline of the stock market, people are worried about whether or not they're going to have enough money to fund their golden years. now, the most interesting stat i saw was 28% of those surveyed said they would probably continue to work even after they retired, they're equally split on whether they'd do it for satisfaction and stimulation or for money. >> good to see you, now back to today's businessman special. cnnmoney.com is out, a top ten list of microfinance companies. these are companies that offer small amounts of money for people trying to get into businesses that don't need a lot to start off. let's take a look at what they came up with. action usa serves all types of businesses, especially home-based businesses. next, accion texas, focuses on

credit building, and loans as big as $300,000 wants to do even bigger loans, and rounding out the top five, we've got accion san diego. accion chicago, business center for new americans and ace are also on the top ten microfinance sites. back to our breaking news, rebekah brooks has just resigned as the head of news corporation, she is one of three people including rupert murdoch and his son, james, who were subpoenaed or asked to testify before a british parliamentary committee. she has resigned, her replacement has been named, he was the former head of sky italia, an italian subsidiary of the news corporation. but she has resigned, we're continuing to cover that news. news corporation stock is trading down ahead of the

opening. before we go, check this out. do you think the american video game industry sold more games in june than they did this time last year? the answer to our get smart question coming up after this break. it is 35 minutes after the hour. litter box dust: purina tidy cats. our premium litters now work harder to help neutralize odors in multiple cat homes. purina tidy cats. keep your home smelling like home. discover aveeno positively radiant tinted moisturizers with scientifically proven soy complex and natural minerals. give you sheer coverage instantly, then go on to even skin tone in four weeks. aveeno tinted moisturizers. say i'm missing england. i type in e-n-g... and he gives me a variety of options. would you like to have a look at a map, my lad? ah, why not? shall we check on the status of your knighthood? yes. again? yes, again, please! thank you. with my digital manservant, i'll never be homesick again.

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it is 38 minutes after the hour. now back to our get smart question of the day. this one stumped me. do you think the american video game industry sold more games in june than they did this time last year or fewer games? the answer is b, fewer games. according to cnet, the gaming industry saw a 10% drop in sales compared to june 2010. that's slightly better than may, when sales dropped 14% compared to the year earlier. the worst month in nearly five years. okay. it's 38 minutes after the hour, three things for your radar today, what would happen if there's no debt deal? at 10:15 this morning, some members of congress are trying to push forward on the

prioritized spending act. it would prevent default, pay our troops and keep our promises to senior citizens receiving social security. then at 11:00 a.m., the president holds a news conference to discuss the latest efforts with the debt ceiling, and carmageddon is set to happen at 7:00 p.m. pacific time, i-405, parts of it, a major l.a. freeway, is being shut down for construction this weekend. and breaking news out of the united kingdom, rebekah brooks, ceo of news international, has resigned. she's announced she has resigned. she's one of the top three executives there who have been subpoenaed to testify before british parliament. the others are rupert and james murdoch. but at this point, she is saying that this has become too much of a distraction for the company. a new ceo has been named but the stock is trading lower. zain verjee joins me in just a few minutes with the update on this and implications as well as the growing scandal here in the united states being investigated

now by the fbi. okay, i want a big old slab of butter, you do that this morning, because this day in history, margarine was patented in france. that was back in 1869. i remember growing up, my mom telling me the best thing for sliced bread. it is 40 minutes after the hour.

good friday morning, july 15th. that is the sun rising over new york, a shot across from time warner center where i am, and that beautiful, beautiful sun rise. i'm ali velshi joining you live from new york, it is 43 minutes after the hour. the debt ceiling debate, after five straight days of meeting, eating peas, drama, where do things stand? how does square one grab you? jessica yellin says congressional leaders and the white house are no further along than they were on sunday. that's not very encouraging when you consider that the u.s. is getting credit warnings from standard and poor's and moody's. and hold on a minute, jessica also says there's a plan b in the works. >> reporter: despite all that, i'm told by my sources there's not a lot of optimism, that this particular negotiating process here at the white house is going to actually end up leading to the real deal, and a lot of effort and attention is now

turning to a different process that's happening in the u.s. senate and other alternate deal that's being worked out between the two senate leaders that could instead end up raising the debt ceiling. >> there are no big talks set for today, no formal negotiations. but president obama is holding a press conference at 11:00 a.m. eastern time, cnn will cover that live. let's talk about cyber security, someone absolutely plundered the pentagon back in the spring. we reported that to you, it was one of the worst security breaches ever. cyber security breaches. listen to the details. >> indeed, in a single intrusion this past march, 24,000 files were taken. it was done, we think, by a foreign intelligence service, in other words, a nation state was behind it. >> the files belonged to a u.s. defense contractor. 24,000 good reasons why the defense department is looking at tightening up its security. casey anthony leaves jail

just in time to face a defamation lawsuit. she told investigators she had a nanny, the woman's lawyers want anthony to sit down for deposition tuesday because they believe it's the only chance they'll get before she bolts orlando and maybe florida. anthony's lawyers say no way, that is too soon after a gruelling trial and she will plead the fifth. and the tsa will test what's called a trusted traveler program. it's going to let certain frequent flyers at certain airports skip the shoe removing laptop revealing full body imaging get basically through security faster. the only catch is they've got to give the tsa extra information about themselves ahead of time. this trial run begins this fall in atlanta, detroit, dallas and miami on delta and american airlines flights. let's go around the world with zain verjee, live from london. she's following the breaking news about the hacking scandal

and a new casualty at the top of news corporation. zain, what have you got? >> reporter: hi, ali. rebekah brooks, the chief executive of news international, has resigned. this is very significant and very dramatic. she had been under huge pressure, ali, both political and financial over recent days to just step down. she issued a statement. here's what she said. i feel a deep sense of responsibility for the people we have hurt. i want to reiterate how sorry i am for what we now know to have taken place. she went on to say, i'm the focal point of the debate here. this is now detracting attention from all our honest endeavors to fix the problems of the past. and by that she means the phone hacking scandal that has gripped this country, ali, and has also affected the united states raising outrage and questions about possible phone hacking of 9/11 victims and their families, which is illegal under u.s. foreign corrupt practices act,

and the fbi is now looking into this. a lot of people are saying this should have happened sooner, but, you know, is this too little too late now? she's going to be grilled by a parliamentary committee still about what she knew, when she knew it, and how much responsibility she had in the phone hacking when she was editor of news of the world. >> when you say too little too late, that could apply to the fact that investors continue to be troubled with news corporation stock and the future of what's going on. it's certainly not going to pull the fbi back from an investigation here in the united states. but in fact, it doesn't get her out of any of the obligations she's got, particularly this very serious one, of being called to testify before parliament. that's the equivalent in britain of being called to testify before congress, maybe even more serious. >> reporter: yeah, i mean, she has a lot more questions to answer. it ain't over. she said she's going to be out there defending her reputation, but what she's got to do is explain herself, explain what she knew and how much should you knew. did she know, as editor, what was going on? there was a 13-year-old girl who

was murdered and news of the world hacked into her -- they deleted her voicemail messages. that for a brief period gave hope to her parents that she was alive. this was the story that has triggered this massive furor that has forced rupert murdoch to not try to take over bskyb and raise criminal questions about the media, the politicians, police and how corrupt it is. >> we'll continue to follow this with you, zain verjee in london. let's take to to rob marciano, any delays for travelers this morning? >> there will be across the northern plains and southeast. i want to touch on this one tornado warning, pretty rare to have one this time of the day, across ransom and richland counties in north dakota, it's heading off to the east fairly

rapidly right now and fairly rural areas, but just be aware of that if you are in that area. these are the spots if you're traveling this afternoon where there will be airport delays. there will be afternoon storms in atlanta. minneapolis, same deal. and miami, orlando and denver, to a lesser extent, you'll see some afternoon thunderstorms. we're starting to see humidity build again across into the gulf of mexico, but dry and comfortable temperatures across the northeast. another gorgeous day along the i-95 corridor from d.c. up through boston. maybe a bit warmer, but still low humidity. and not bad in atlanta, 85. but 104 in dallas, it continues to be hot there, and the heat continues to build across the northern part of the plains where it will be a heat wave going into the beginning part of next week. an article in the "journal science," i don't think we have the video to show you, but they studied baboons, and apparently

it's not so great to be the alpha male anymore. >> really? >> there are lower stress levels if you are maybe the beta male, second in line. but the alpha has a lot of stress much he's got to fight off the other guys, he's got a lot of women chasing him around, so, maybe we should take that into our -- >> the beta male gets to watch it all happen. >> as one scientist said, who's going to take the girl home when the alpha male baboon gets into the bar fight? the beta man. >> good way to look at life, rob marciano. explaining why it's okay to be the beta male. the nba has laid off more than 100 workers, about 11% of its workforce, but the league is quick to point out the layoffs aren't related to the lockout. league officials are trying to find ways to make up for $300 million in annual losses. and the ncaa has hit georgia tech with a $100,000 fine and four years of probation. tech has also been stripped of its acc championship win over

clemson during the 2009 football season. those penalties stem from violations in tech's football and men's basketball programs. and here's your play of the day in major league baseball, that being yesterday, of course, jack hannahan of the cleveland indians right back at you to baltimore orioles pitcher mike gonzales, gets him right in the leg. gonzales plays through the pay, get that man some bengay or icy hot or something. and the former all star roger clemens is accused of lying under oath about steroid use but there he is signing autographs. prosecutors messed up big time showing jurors banned video evidence. it's a big goof. the judge said a first-year law student would have known better. we find out in september whether the case will be retried. let's go to pablo torre. this was amazing, the legal

wrangling has been going on in this case for years. it's cost taxpayers a lot of money. >> this is incredibly humiliating for federal prosecutes, the government including the fbi, has spent millions of dollars hunting roger clemens and now after day two of his trial for perjury, they need what amounts to a redo, which is obviously far more acceptable in a round of golf than it is in a perjury trial. and the judge, as you said, goes off on the federal prosecutors and for any fans out there who argued and maintained from the start it was a waste of money to prosecute and try baseball players with tax dollars, this is really proof that they were right in the beginning. >> the prosecutor walked out without any comment. really dressed down by the judge. by the way, this wasn't even asked for by the defense, this is the judge saying, you didn't do your job. what does this mean for clemens? there will be discussion about whether he gets retried, but is this vindicating it all or was

this a technicality? >> it's a bit of both. the grand irony is that the government had a pretty strong case based on the evidence against clemens. clemens of course was the one who got himself into this mess in the first place by voluntarily going before congress. and now on september 2nd, he may not have a retrial. the judge has hinted that, because of double jeopardy, they may not be able to try roger clemens again. and in either case, whether there's a retrial or not, the public focus is now officially switched from roger clemens' incompetence to the government's. that's a win in any situation, and certainly a win for the legal team which had a slim chance, it looked like at the beginning of this thing, in the first place. >> pablo, good to see you, my friend. pablo torre joining me from new york. before we go, today's word of the day. what rob marciano was talking about, glucocorticoid.

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it is 57 minutes after the hour. now back to the word that you need to know today, it is glucocorticoid. it's a class of steroid hormones that are synthesized by the adrenal cortex of vert brats and have inflam tore activity. i have no idea what that means but it goes back to the journal of science rob marciano was telling us about, that tell us top ranking male baboons had higher levels of stress. those levels of stress are glucocorticoids. that's why, he said, it's better to be the beta male. what would happen if there's no debt deal? at 10:15 this morning, some

members of congress are trying to push forward the so-called prioritized spending act. that would prevent default, pay the troops and keep promises to seniors. then at 11:00 a.m. eastern, the president holds a news conference to discuss the latest on efforts to reach a deal on the debt ceiling. you've been hearing about it all week, carmageddon is set to happen 7:00 p.m. pacific, parts of the i-405, a major l.a. freeway, are being shut down for weekend reconstruction. it's going to snarl traffic in l.a. let's look at the world's money, the nikkei is up but the hang seng in hong gong, the dax in germany and ftse are slightly lower this hour. let's go live to hong kong, asian and european stocks are reacting to economic news and debt issues. >> that's right. here in asia, commodity stocks fell over concerns that america's debt issues will hurt global recovery. and in europe, stocks there continue to slide, given the

debt worries on both sides of the atlantic. now, a number of european banks will soon find out if they can handle another financial shock. the results of banking stress tests are due out today, mid-day in new york. as many as one bank in nine is expected to fail. that's not a good statistic. >> stress tests are designed to say what will happen to a bank in the event of another credit crisis, something we thought was way behind us, but two years or three years later we're still talking about these issues. here's another thing we're talking about. i know you've talked about a lot, the clean tech industry, the green industry has been all the rage. but there are some saying this could be about to change. there's talk of a crash in green tech. what are we talking about? >> yeah, this is a really interesting survey. now, the clean tech sector saw a lot of growth during the recession, but can that growth continue? according to a new report by the brookings institution, clean tech or green tech could be facing, quote, a funding cliff. and that could happen by the end of this year,